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Seemed odd to me also. That's why I posted what I did. Actually, they didn't "tell me." I called them and got a recording that asked if I wanted additional information. I said, "yes," and they sent me this link in an email: TurboTax Windows 10 Desktop Software End of Life   Did anyone else get it? 

"Recharacterization" is a transaction that allows you to treat a contribution made to one type of IRA (Traditional or Roth) as having been made to the other type. The deadline for recharacterizing an IRA contribution is generally the tax-filing deadline (including extensions) for the year the contribution was made. This is typically October 15th of the following year. Since you are two years past the rollover and original post-tax contribution date, the window for a recharacterization of the original contribution has almost certainly closed. However, you have a separate option to consider: a Roth Conversion. Roth Conversion: A Roth conversion is a process where you move assets from a Traditional IRA (or other pre-tax retirement accounts) into a Roth IRA. After-Tax Funds: The original $5,900 you rolled over was from post-tax funds, which means you have already paid taxes on that principal. Taxable Amount: When you convert, you generally only pay income tax on the earnings that have accrued in the Traditional IRA since the rollover, not the original after-tax principal. The original $5,900 itself should not be taxed again, as long as you've properly filed IRS Form 8606 to track your non-deductible (after-tax) contributions (your "basis"). Pro-Rata Rule: If you have any other pre-tax money in any of your Traditional IRAs (including SEP and SIMPLE IRAs), the conversion will be subject to the pro-rata rule. This rule requires that a portion of the amount you convert be considered pre-tax and therefore taxable, even if you are only converting the after-tax funds. The calculation is based on the total value of all your Traditional IRAs. Irreversible: Roth conversions made after 2017 cannot be recharacterized (undone). Deadline: There is no income limit to do a Roth conversion, and the deadline for converting in a given year is December 31st of that year.   In summary: Recharacterization: Likely not possible due to the time that has passed (two years). Roth Conversion: This is the current, available path to move your funds to a Roth IRA. You will pay income tax on any earnings in the Traditional IRA.     The conversion may be partially taxable if you have any other pre-tax funds in any of your Traditional IRAs (the pro-rata rule).     The converted amount is included in your taxable income for the year of conversion.     It is highly recommended that you consult with a qualified tax professional or a financial advisor to understand the specific tax implications of a Roth conversion, especially regarding the reporting of your after-tax basis on Form 8606 and the potential impact of the pro-rata rule.

Keep in mind Turbotax limits s/w to activation for versions 2019 onwards to current tax year and 3 prior years - however I don't think you will be able to download the old versions you bought for Windows onto the Mac as the downloads are OS specific; so you'll probably be starting from scratch with 2025 (be sure to export PDF with all forms and worksheets for your old returns, and presumably you'll keep the old laptop around for quite a while).   If you've not purchased a machine yet suggest looking into the Mac Mini you can get a very simple affordable solution which plugs into 3rd party monitors etc.  If you need a keyboard at some point I highly recommend the Logitech MX Keys S for Mac rather than the apple keyboard (more expensive and I found it to have a very flat profile)   If you have questions on the migration there is a good discussion forum on Apple support site with responsive experts.  They will probably recommend using Migration Assistant, info below   https://discussions.apple.com/community/macos   https://support.apple.com/en-us/102565   Good luck!

Your RMD for 2026 will be calculated based on your traditional IRA balance as of December 31, 2025. Any money you can remove from that balance this year will directly lower your 2026 RMD.  Please refer to this IRS guidance. You could also consider converting a portion of your traditional IRA balance to a Roth IRA in 2025. The amount converted is added to your 2025 taxable income (AGI/MAGI).  Since the money is moved out of the traditional IRA before December 31, 2025, it is not included in the balance used to calculate your RMD for 2026. This lowers your RMD for all future years.  However, you must pay the tax on the converted amount in 2025. This means your 2025 AGI/MAGI will be higher, which you must carefully manage to avoid jumping into a higher income tax bracket or a higher IRMAA bracket two years from now (for 2027 Medicare premiums).   Another option is a Qualified Charitable Distribution. You instruct your IRA custodian to send money directly from your IRA to a qualified charity. The distribution is excluded from your AGI/MAGI. It is neither taxed nor deducted. Since it's removed from the IRA balance before year-end, it reduces your RMD for all subsequent years. You can use a portion of your IRA balance to purchase a Qualified Longevity Annuity Contract. The premium paid for the QLAC is excluded from the IRA balance used to calculate your RMDs until the QLAC payments begin (which can be as late as age 85).   I recommend contacting a certified financial planner to explore other possible options as well. Hope this helps! Cindy          

In January you will receive a SSA1099 to enter.   That document from SS will show the amount of SS you received for 2025.    You will enter it and let the software calculate ow much--if any--of it is taxable.    The new tax laws did not change in regard to the fact that up to 85% of your Social Security can be taxable if you have other sources of income.  Since you were affected by the Fairness Act, we can safely assume you are receiving some other income such as a pension from teaching or some other work you did that was previously affected by the WEP rules that reduced the amount of SS you could receive while also getting a pension.   Up to 85% of your Social Security benefits can be taxable on your federal tax return.  There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits.  When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.     What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2021 it was  $18,960.  For 2022 it was  $19,560  —  for 2023 $21,240)  For 2024, $22,320.  For 2025 it will be $23,400   After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.  If you work as an independent contractor then you will pay self-employment tax for Social Security and Medicare.   To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2024 Form 1040   https://www.irs.gov/help/ita/are-my-social-security-or-railroad-retirement-tier-i-benefits-taxable   You need to file a federal return if half your Social Security plus your other income is   Single or Head of Household      $25,000 Married Filing Jointly                  $32,000 Married Filing Separately            $0   Some additional information:  There are 9 states that tax Social Security—Colorado, Connecticut,, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont  and West Virginia These states offer varying degrees of income exemptions, but two mirror the federal tax schedule: MN and VT.         IF YOU WANT TO HAVE TAX WITHHELD FROM YOUR SOCIAL SECURITY BENEFITS   https://www.ssa.gov/manage-benefits/request-withhold-taxes https://www.irs.gov/forms-pubs/about-form-w-4-v        

The amount of your RMD is not affected by Social Security benefits.   The amount of the Required Minimum Distribution you take from a retirement account like an IRA is determined by your age, the amount of money in the retirement account and your life expectancy factor.   The amount of tax you owe/refund will be determined by the TOTAL amount of income you receive, including your SS benefits and the money from your retirement account (and any other sources of income you have).     You will enter all of that into your tax return along with how much tax was already withheld from the income; the software will calculate whether you owe more or get a refund.

Let's say I have $300,000 in rollover IRA and I retired today.   1)  This $50K can pass down to my heir (tax-free), correct? Correct if itis a non-spouse beneficiary (e.g., your child or relative), your heir's withdrawals from the inherited Roth IRA will be federal income tax-free, provided the Roth IRA has been funded for at least five years before your death.  2)  Remaining $250K, I have to meet the annual minimum RMD withdrawal My heirs can take over the remaining balance after my past. Do they require to keep withdrawing annual RMD as well? It depends on when you pass away. The rules are complex due to confusion from the SECURE Act, but the prevailing rule for non-spouse beneficiaries is the 10-Year Rule. 3)  Heirs must withdraw all remaining IRA balance by 10 years mark after my past? They need to pay "ordinary income tax" within their tax bracket?  Yes, but with a potential annual RMD. For non-spouse beneficiaries inheriting the account: If you die BEFORE your RMD (age 73), the heir must empty the account by the end of the 10th year following the year of your death. No annual RMDs are required during that 10-year period.  If you die ON or AFTER your RBD (age 73), the heir must continue to take annual RMDs for years 1 through 9, and then must empty the remaining balance by the end of the 10th year.  They will pay their ordinary income tax rate. 4)  How can I apply to a part of lifetime gift exclusion with the IRA?  You cannot apply a gift exclusion.  You would first withdraw the money, pay the tax due, if any and then gift the money. 5)  Is lifetime gift exclusion subject to tax? If yes, how so?  The exclusion determines what is taxable to the recipient.  This is the amount you can give to any single person each year without having to file a gift tax return (Form 709). For 2025, this amount is $19,000 per recipient (or $38,000 if your spouse "splits" the gift). Gifts within this limit are tax-free to both you and the recipient and do not use up your lifetime exclusion.  Lifetime Gift and Estate Tax Exemption: This is the total amount (as of your death and throughout your lifetime) that you can transfer without incurring the Federal Gift or Estate Tax. This exemption is unified (applies to both gifts during life and assets at death) and is extremely high (for 2024, it is **$13.99 million** per individual.  How it works: If you give a gift that exceeds the annual exclusion (e.g., a $50,000 gift), the excess amount ($38,000) is NOT taxed immediately. Instead, it is reported on Form 709 and reduces your $13.99 million lifetime exemption. You only pay a gift tax if you exhaust the entire lifetime exemption amount. The recipient never pays the gift tax. Hope this helps! Cindy

If the plan uses a fiscal year, it's possible that participation in 2024 could make you covered for 2025.  For example, if the plan uses a fiscal year ending June 30, you separated from service in September 2024 while having made deferrals to the plan from your pay though the date that you separated from service, you would be covered for 2025 because additions were made for the plan year that ends on June 30, 2025.   However, because you were not employed with the company in 2025, you will not be receiving any 2025 Form W-2 that would be marked to indicate that you were covered by a retirement plan.  To truly know if you were covered for 2025, you would need to find out from the plan whether additions were made to your account for the plan year that ended in 2025.

@17611198902 wrote: Is the amount taken from my social security for Medicare every month considered to be income? -Do I calculate my total income for the year less the amount taken for Medicare every month? The Medicare deducted from Social Security is part of the SS income you report. You will get a SSA-1099 to report your Social Security.   Box 5 is the SS income you report before the deductions are taken out.   If you itemize your deductions the Medicare will be added to your Medical Deduction.